Geopolitical Monitor - Topic: Economy

July 27th (Geopoliticalmonitor.com) - A war of words is simmering between the governments of Iran and Russia, potentially placing the latter more squarely in the Western camp on any future attempts to turn the screw on Iran’s nuclear program.

Political friction over economic issues between the US and China has faded for the time being, but its sources remain and may reappear at any time.

Today, results of the financial ‘stress test’ performed on 91 banks across Europe will be made public.

It seems that the days of a Chinese foreign policy based on not ‘rocking the boat’ are over. Over the next few years, expect Beijing to increasingly assert itself as a global power.

July 16th (BBC News) - US bank Goldman Sachs has agreed to pay $550m (£356m) to settle civil fraud charges of misleading investors.

July 16th (BBC News) - The pace of growth in the world's third-largest economy slowed in the second quarter, official figures show.

July 16th (BBC News) - A US Congressional committee has agreed measures that would ban BP from new offshore drilling for seven years.

NEW YORK (AFP) – US banking giant JPMorgan Chase on Thursday announced a net profit of 4.8 billion dollars in the second quarter, up nearly 80 percent from the same period last year.

July 15th (BBC News) - The US military is to hand over control of its last remaining detention centre in Iraq, as it increases the pace of its withdrawal from the country.

January 12, 2010 (Reuters) - Greece's fiscal consolidation program is on track and should allow the country to obtain a second tranche of international aid in September, euro zone finance ministers said on Monday.